Compound market

The sheet molding compounds market size will reach US$3.6 billion in 2026

RAIPUR, India, February 9, 2022 /PRNewswire/ — Stratview Research, a leading market research firm, has released a report on the Sheet Molding Compounds market that provides in-depth analysis of market dynamics, current and emerging trends, industry forecast and competitive landscape.

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How is the report useful?

The report has great utility for key decision makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.

Most importantly, the report analyzes the possible impact of COVID-19 on the market dynamics, which provides cushion against the uncertain business environment and helps streamline resources and investment decisions fruitfully.

What are the main market drivers?

According to the report, the sheet molding compounds market is driven by a multitude of factors, some of which are noted below:

  • Increase in the size of the car fleet, since SMC is considered an ideal material for the manufacture of Class A body panels.
  • The increase in demand for materials with properties such as excellent surface finish, excellent mechanical strength, corrosion resistance, etc. in industries such as automotive, consumer goods, construction, electrical and electronics.

The report also includes growth rate estimates based on the intensity of drivers and restraints and provides users with several graphical illustrations of key information.

Sheet Molding Compounds Market Segmentation:

Stratview Research has segmented the market in the following 5 ways that meet the market data needs of multiple stakeholders across the industry value chain.

  • End-use industry type (Transport [Light Vehicles and MHCV]construction, consumer goods, electrical and electronics and others)
  • fiber type (Glass composites and other composites)
  • Resin type (Polyester composites and other composites)
  • Density type (medium-high density SMC and low density SMC)
  • Region (North America, Europe, Asia Pacificand rest of the world)

Sheet Molding Compounds Market Overview

Market trends by End Use Industry Type:

Based on the type of end-use industry, the market is segmented into transportation, construction, consumer goods, electrical & electronics, and others. The transportation segment is divided into light vehicles and MHCV. Transportation is expected to remain the largest demand driver for SMCs in terms of value and volume during the forecast period. SMC is considered an ideal material for making Class A body panels. SMC provides excellent workpiece finish, excellent corrosion resistance, superior mechanical performance, and better electrical insulation and heat resistance properties, meeting multiple market requirements. Additionally, automakers can produce 150,000 to 200,000 parts per year from SMC, perfectly in line with the industry’s 2-5 minute cycle time. Construction, another notable market for SMCs, is expected to be the fastest growing market over the next five years.

Market trends by Fiber type:

On the basis of fiber type, the market is segmented into glass composites and other composites. Fiberglass remains the perennial choice of material for manufacturing SMCs for the foreseeable future. Fiberglass offers many advantages over other fibers at lower cost, justifying its applicability in a large number of applications. All major markets including transportation, construction, consumer goods, electrical and electronics are extremely dependent on glass fiber reinforced SMCs. Carbon fiber, a lightweight material, is rapidly gaining traction in the market with its advantages suited to the burning challenges of the industry. The type of material is gaining popularity in Europe and North Americaespecially in electric and high-end vehicles.

Which region offers the best opportunity and growth?

At the regional level,

Asia Pacific is expected to remain the largest market for SMCs over the next five years

due to increasing penetration of SMC in automobiles coupled with greater vehicle production. China, JapanKorea and India are the main automobile producers. There has been an increase in the use of composite materials, specifically compounds, in the automotive industry in the region over the eons, making the region the largest demand generator among all regions. Additionally, the region is the largest market for the construction, consumer goods, and electrical and electronics industries.

North America and Europe are the other major markets for SMC following heavy use in their vehicles.

Impact of COVID-19 on the Sheet Molding Compound market

COVID-19 has brought an instant halt to many industries around the world. Lockdown norms in several countries quickly affected the global economy by affecting supply chain, production and market demand. The direct and indirect impacts of the pandemic have been integrated into this report.

To learn more about the impact of covid-19, get a free sample report here:

Who are the best market players?

After in-depth analysis of the market, the experts have listed down few key players and discussed the company profiles of the players below –

  • Polytech group
  • IDI Composites International
  • Polynt SPA
  • Premix Inc.
  • Lorenz-Kunststofftechnik GmbH
  • Menzolit GmbH
  • Huayuan Advanced Materials Co., Ltd. (CHAM)
  • Core Molding Technologies, Inc
  • Continental Structural Plastics
  • Changzhou City Jiangshi Composite Technology Co.Ltd.

What deliverables will you get in this report?

– In-depth analysis of the Sheet Molding Compound market.

– Detailed market segmentation.

– Analysis of the competitive landscape.

– Historical, current and future market size analysis.

– Industry trends, technologies and advancements.

– Growth and operating strategies adopted by key players.

– Potential segments/regions offering promising growth.

– Geographical presence of key players.

Related reports that might be helpful:

  1. Thermoset Molding Compounds Market
  2. Bulk Molding Compounds Market

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SOURCE Stratview Research